Overview of the global rice milk market
Technavio’s market research analyst predicts the global rice milk market to grow steadily at a CAGR of above 15% by 2021. One of the key drivers contributing to the rice milk market’s growth is the rise in the number of cases of lactose intolerance. Lactose intolerance is the inability of the body to digest significant amounts of lactose present in milk. Certain ethnic groups such as the Asian population are more affected compared to others. Also, in the US and Europe, the sales of lactose-free products doubled in 2014 due to the increase in self-diagnosed cases of lactose intolerance. Rice milk has proved to be a popular dairy-alternative milk in Asia and Europe as it is not only lactose-free but also fortified with essential vitamins and minerals needed for the growth and development of the body. With an increasing number of people adopting rice milk as an alternative for dairy milk, the global rice milk industry is expected to grow during the forecast period.
In terms of geography, Europe accounted for the maximum market share during 2016 and will continue to dominate the rice milk market for the next few years. The increasing lactose intolerance among the consumers is the main impetus for market growth as rice milk is low in fat and is good for people with a sensitive stomach as it is mild and easier to digest in comparison to dairy milk. Many consumers are shifting from dairy milk to non-dairy milk, including rice milk, almond milk, and coconut milk. Due to the above-mentioned advantages, the demand for rice milk in Europe is expected to remain high in the coming years.
Competitive landscape and key vendors
The global rice milk market is highly competitive due to the constantly changing consumer demands and preferences in the food and beverage industry. The manufacturers in the global rice milk market may benefit from this overall economic development owing to the rise in the number health-conscious consumers over the globe who prefer non-dairy beverages. With the presence of both established regional and international vendors the competition in the global market is expected to intensify in the coming years.
Leading vendors in the market are –
- DREAM
- Pacific Foods
- Vitasoy
- WhiteWave Foods
Other prominent vendors in the rice milk market include Costco Wholesale Corporation, Ecoideas, FINE JAPAN, Freedom Foods, Pureharvest, SunOpta, The Bridge, and Whole Foods Market.
Segmentation by product type and analysis of the rice milk market
- Plain rice milk
- Flavoured rice milk
During 2016, the plain rice milk dominated the rice milk market and accounted for a major part of the overall market share. The rapid rise in the number of cases of lactose intolerance or maldigestion is the primary contributor to the dominance of this segment in the global market. Also, owing to the rising health-consciousness among the millennials who prefer natural drinks several cafés and restaurants have started selling rice milk to increase their revenues.
Segmentation by distribution channel and analysis of the rice milk market
- Supermarkets and hypermarkets
- Health food stores
- Convenience stores
In this market study, analysts have estimated supermarkets and hypermarkets to dominate the rice milk market during the forecast period. The growing organized retail globally and the availability of self-space for stoking multiple brands are the key factors responsible for the growth of this segment in the global market.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global rice milk market?
- What are the key market trends impacting the growth of the global rice milk market?
- What are the challenges to market growth?
- Who are the key vendors in the global rice milk market?
- What are the market opportunities and threats faced by the vendors in the global rice milk market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
- What are the key outcomes of the five forces analysis of the global rice milk market?
Technavio also offers customization on reports based on specific client requirement.
Related reports
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
- Regional product lifecycle for global rice milk market
PART 05: Market landscape
- Market overview
- Global health and wellness food and beverages market
- Global rice milk market
- Five forces analysis
PART 06: Market segmentation by product type
- Global rice milk market by product type
- Global plain rice milk market
- Global flavored rice milk market
PART 07: Geographical segmentation
- Global rice milk market by geography
- Rice milk market in Europe
- Rice milk market in APAC
- Rice milk market in Americas
- Rice milk market in ROW
PART 08: Market segmentation by distribution channel
- Global rice milk market by distribution channel
PART 09: Marketing mix
- Marketing mix for global rice milk industry
PART 10: Key leading countries
PART 11: Market drivers
- Rising levels of lactose intolerance
- Growing consumer preference for vegan diet
- Health benefits associated with the consumption of rice milk
PART 12: Impact of drivers
PART 13: Market challenges
- Increasing popularity of other non-dairy milks
- Threats associated with natural disasters and adverse weather conditions
- Risk of contamination with arsenic in rice milk
PART 14: Impact of drivers and challenges
PART 15: Market trends
- Consumer focus shifting toward organic variants of rice milk
- Continuous product innovation
- Growing demand for rice milk in restaurants and cafés
PART 16: Competitor analysis
- Competitive scenario
- Competitive positioning assessment
- Strategic roadmap for manufacturers operating in the global rice milk market
- Market positioning matrix based on product portfolio and distribution network for key market players
- Key rice milk manufacturers mapping based on their market position
- DREAM
- Pacific Foods
- Vitasoy
- WhiteWave Foods
- Other prominent vendors
PART 17: Appendix
PART 18: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape